Zacks Investment Research Lowers EnLink Midstream (NYSE:ENLC) to Hold

Zacks Investment Research downgraded shares of EnLink Midstream (NYSE:ENLCGet Rating) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “

Other analysts have also recently issued reports about the company. Morgan Stanley raised EnLink Midstream from an underweight rating to an equal weight rating and upped their target price for the company from $7.00 to $9.00 in a research report on Friday, January 7th. Mizuho upped their target price on EnLink Midstream from $8.00 to $9.00 and gave the company a neutral rating in a research report on Thursday, February 17th. StockNews.com cut EnLink Midstream from a buy rating to a hold rating in a research report on Friday. Finally, Raymond James increased their price objective on EnLink Midstream from $9.00 to $10.00 and gave the stock an outperform rating in a research report on Thursday, February 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $7.78.

ENLC opened at $9.66 on Friday. EnLink Midstream has a one year low of $4.15 and a one year high of $10.28. The company has a market cap of $4.68 billion, a P/E ratio of 241.56 and a beta of 2.99. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $9.04 and its 200-day simple moving average is $7.92.

EnLink Midstream (NYSE:ENLCGet Rating) last announced its earnings results on Tuesday, February 15th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $1.88 billion. EnLink Midstream had a return on equity of 0.73% and a net margin of 0.34%. During the same period in the prior year, the firm earned $0.03 EPS. As a group, analysts predict that EnLink Midstream will post 0.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 11th. Stockholders of record on Monday, January 31st were issued a $0.112 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.09. This represents a $0.45 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Friday, January 28th. EnLink Midstream’s dividend payout ratio (DPR) is currently 1,125.28%.

In other news, Director Kyle D. Vann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total value of $82,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ENLC. Lee Financial Co increased its stake in EnLink Midstream by 1.9% in the 4th quarter. Lee Financial Co now owns 72,145 shares of the pipeline company’s stock valued at $497,000 after purchasing an additional 1,324 shares in the last quarter. Parkwood LLC grew its position in shares of EnLink Midstream by 7.4% in the fourth quarter. Parkwood LLC now owns 20,413 shares of the pipeline company’s stock valued at $141,000 after purchasing an additional 1,413 shares during the period. Advisor Group Holdings Inc. grew its position in shares of EnLink Midstream by 6.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 24,628 shares of the pipeline company’s stock valued at $169,000 after purchasing an additional 1,600 shares during the period. Rational Advisors LLC boosted its holdings in EnLink Midstream by 105.8% in the fourth quarter. Rational Advisors LLC now owns 3,690 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 1,897 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in EnLink Midstream by 8.2% in the fourth quarter. Alliancebernstein L.P. now owns 29,360 shares of the pipeline company’s stock valued at $202,000 after acquiring an additional 2,221 shares during the last quarter. 39.65% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Company Profile (Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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